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Financial Services Regulatory Authority of Ontario

IN THE MATTER OF the Insurance Act, RSO 1990, c. I.8, as amended (the “Act”), in particular sections 441.1, 441.2 and 441.3;

AND IN THE MATTER OF Ying Xue (also known as Sophie Xue)

ORDER TO IMPOSE AN ADMINISTRATIVE PENALTY

Ying Xue is licensed as a life insurance and accident & sickness insurance agent (licence # 01067985) under the Act.

On March 29, 2019, the Superintendent of Financial Services (the “Superintendent”) issued a Notice of Proposal to impose an administrative penalty in the amount of $1,750 on Ying Xue for furnishing false, misleading or incomplete information to the Financial Services Commission of Ontario contrary to section 447(2)(a) of the Act.

The Notice of Proposal was delivered to Ying Xue on April 5, 2019. Section 441.3(5) of the Act provides that any person on whom a Notice of Proposal is served has fifteen (15) days after the Notice of Proposal is given to request a hearing before the Financial Services Tribunal (the “Tribunal).

Effective June 8, 2019, pursuant to the Financial Services Regulatory Authority of Ontario Act, 2016, S.O. 2016, c. 37, Sched. 8, the Financial Services Regulatory Authority of Ontario (“FSRA”) became the regulator under the Act and the powers and duties previously vested in the Superintendent under the Act were vested in the Chief Executive Officer of FSRA (the “Chief Executive Officer”).

On July 4, 2019, the Registrar of the Tribunal confirmed that Ying Xue did not request a hearing by the Tribunal in accordance with section 441.3(5) of the Act.

Therefore, pursuant to section 441.3(7) of the Act, and by delegated authority from the Chief Executive Officer, the Director, Licensing Approvals, Market Conduct makes the following order.

ORDER

An administrative penalty in the amount of $1,750 is hereby imposed on Ying Xue.

TAKE NOTICE THAT the FSRA will deliver an invoice to Ying Xue, with information as to where and how to pay the administrative penalty. Ying Xue must pay the administrative penalty no later than thirty (30) days after the date of the invoice.

If Ying Xue fails to pay the administrative penalty in accordance with the terms of this Order, the Chief Executive Officer may file the Order with the Superior Court of Justice and the Order may be enforced as if it were an order of the court. An administrative penalty that is not paid in accordance with the terms of an order imposing the penalty is a debt due to the Crown and is enforceable as such.

DATED at Toronto, Ontario, March 5, 2020.

Original signed by

Wendy Horrobin
Director, Licensing Approvals, Market Conduct

By delegated authority from the Chief Executive Officer


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